stereolab Posted January 17, 2013 Share Posted January 17, 2013 It is actually very simple mathematics. for every pound ticket bought.. 50p goes to prizes 28p to good causes 12p government 5p to retailer 5p to Lottery organiser to cover costs and profit. So on average if you spent £10 on lottery tickets you would expect to get £5 in prizes. for every 2 pound ticket bought 100p goes to prizes 56p to good causes 24p government 10p to retailer 10p to Lottery organiser to cover costs and profit. So on average if you spent £10 on lottery tickets you would expect to get £5 in prizes. ---------- Post added 16-01-2013 at 20:15 ---------- You are wrong. Just because half of the money is paid in prizes, doesn't mean each person can expect half their money back. You are ignoring the fact that not every ticket wins a prize. Link to comment Share on other sites More sharing options...
matsalleh Posted January 17, 2013 Share Posted January 17, 2013 The price may be going up, but maybe you'll get more for your money? Instead of having to choose 6 numbers and a bonus from a mere 49, perhaps they'll increase the choice and you'll be able to choose anything from 1 to 99. My head is about to blow up already so please don't confuse any more by working those odds out! Isn't there more chance of getting no numbers than getting one? As things stand at the moment. Link to comment Share on other sites More sharing options...
Lockjaw Posted January 17, 2013 Share Posted January 17, 2013 The odds of winning are not halved by buying 5 tickets rather than 10 tickets. If the actuall odds are 14,000,000 to 1 of winning and you buy 5 different tickets then there is a 13,999,995 to 1 probability of you winning. If you buy ten then there is a 13,999,990 to 1 probability of you winning. Your odds of winning are better, but only by a very tiny fraction of 1%. What nonsense is this!? Doubling the number of tickets (assuming they have different numbers on them, of course) doubles your chances of winning. Link to comment Share on other sites More sharing options...
gnvqsos Posted January 17, 2013 Share Posted January 17, 2013 So if everyone bought twice as many tickets each would double their chances of winning a jackpot containing twice as much cash?I might even buy a few tickets now! Link to comment Share on other sites More sharing options...
truman Posted January 17, 2013 Share Posted January 17, 2013 Aah but you are going to halve your chances of winning by only entering one draw ---------- Post added 16-01-2013 at 17:40 ---------- if you buy 14 million tickets what are the odds then ? More Importantly what would your take home prize be ? If you buy a ticket to cover all the possibilities then you're bound to have one that matches the numbers drawn...whether or not you make a profit is a different matter.. Link to comment Share on other sites More sharing options...
Lockjaw Posted January 17, 2013 Share Posted January 17, 2013 So if everyone bought twice as many tickets each would double their chances of winning a jackpot containing twice as much cash No. Nice strawman, though. Link to comment Share on other sites More sharing options...
truman Posted January 17, 2013 Share Posted January 17, 2013 The odds of winning are not halved by buying 5 tickets rather than 10 tickets. If the actuall odds are 14,000,000 to 1 of winning and you buy 5 different tickets then there is a 13,999,995 to 1 probability of you winning. If you buy ten then there is a 13,999,990 to 1 probability of you winning. Your odds of winning are better, but only by a very tiny fraction of 1%. I think you're wrong....simplify it..if there are 10 different results for an event and you choose 1 then you have a 1 in 10 chance of winning..if you choose 2 then there is a 2/10 chance of you having the right one ie 1 in 5..you've halved the odds or doubled your chance of winning..the same goes for the lottery but with bigger numbers ie 1/14,000,000 2/14,000,000 (1/7,000,000)etc.etc.. Link to comment Share on other sites More sharing options...
PeteMorris Posted January 17, 2013 Author Share Posted January 17, 2013 For me personally, I'll probably still spend the same as I do now (which isn't a huge amount). So the number of tickets I buy will be halved. We all know the odds of actually winning a big prize is pretty remote. But if you have no ticket, then the odds are zero. As the old saying goes, you have to be in it to win it! Link to comment Share on other sites More sharing options...
BoroB Posted January 17, 2013 Share Posted January 17, 2013 For me personally, I'll probably still spend the same as I do now (which isn't a huge amount). So the number of tickets I buy will be halved. We all know the odds of actually winning a big prize is pretty remote. But if you have no ticket, then the odds are zero. As the old saying goes, you have to be in it to win it! I've been in it to not win it since it started! I would expect the number of rollovers to increase if most people spend the same amount as they do now due to the number of tickets being entered in the draws halving. Link to comment Share on other sites More sharing options...
PeteMorris Posted January 17, 2013 Author Share Posted January 17, 2013 I've been in it to not win it since it started! I would expect the number of rollovers to increase if most people spend the same amount as they do now due to the number of tickets being entered in the draws halving. Actually, that's a really valid point. You're probably right, and lets face it, the only time a lot of people play, who wouldn't normally, is when there's a silly amount of money in the rollovers. Link to comment Share on other sites More sharing options...
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